[Resolved]  ICICI Bank Limited — non compliance with rbi guidelines on minimum balance charges

Address:	Vadodara, Gujarat, 390007
Website:	www.icicibank.com

To,
ICICI Bank Limited
CIN No. L65190GJ1994PLC021012
Registered Office: ICICI Bank Tower,
Near Chakli Circle, Old Padra Road, Vadodara 390007, Gujarat, India.
Tel :+[protected]

Corporate Office: ICICI Bank Towers,
Bandra-Kurla Complex, Mumbai 400 051.
Tel : +[protected]
Fax : +[protected]

SENDING CONSOLIDATION MAIL IN RESPONSE TO CUSTOMER GRIEVANCE WILL NOT HELP IN DISAPPEARING ALL THE ISSUES WITH ICICI BANK LIMITED

ITS BEEN THREE MONTHS NOW STILL MY ISSUES IS NOT RESOLVED BY YOUR BANK. WHAT ARE YOU WAITING FOR ?

Will ICICI Bank Limited reverse all the Minimum Balance Charges levied when customers sends some consolidation mail to your bank. NO NEVER. IT WILL NEVER HAPPEN IN THE HISTORY OF ICICI BANK. SO HOW DOES ICICI BANK ASSUMES THAT SENDING APOLOGY MAIL TO CUSTOMERS IN RESPONSE TO HUGE NEGLIGENCIES BY THE BANK WILL HELP IN SORTING OUT THE ISSUES FACED BY THE CUSTOMERS.

NO CONSOLIDATION MAIL EVER HELPS IN SORTING OUT ANY ISSUES IN THE WORLD.

PROVIDE ALL THE CCTV FOOTAGE STARTING FROM MY ACCOUNT OPENING TO ALL THE DOCUMENTATION DONE AT YOUR BANK FOR MY ACCOUNT OPENING. YOUR BANK IS DESTROYING EVIDENCES AND DOCUMENTS TO HIDE THE APPARENT NEGLIGENCE COMMITTED AT THE TIME OF OPENING MY ACCOUNT.

ICICI BANK LIMITED HAVE TO PROVE INNOCENCE IN MY CASE BY PRODUCING SUFFICIENT AND SATISFACTORY PROOFS IN SUPPORTS OF YOUR CLAIMS MADE.

The below are the issues against your bank as per mail dated 09th February 2018

Now let me highlight you about my experience on visiting my home branch of ICICI bank for updating my Aadhar Details 22nd January 2018:-

1. I reached there with my Online Aadhar Copy and asked the officials to update the same in my account. They said they will not be able to check/verify my Aadhar Details online as the system is not working. On asking when the system will get working I did not get any assured date. Why ICICI bank did not had their system running and moreover why there are No Back Up System which can work when one system fails ? Why even might be your system comes to Normal I had not been informed about the same? Why they did not kept my documents with them as they might will be able to update the same once the system backs to normal/working ? So, Shall I conclude that ICICI Bank has failed to provide basic banking facilities which are supposed to provide as a Private Banking Organisation. They told me to come with my Original Aadhar Card upon which they will not have to check /verify anything and will update necessary changes in my account. I got shocked to hear that as per the bank officials if we provide any Original Document bank do not need to check or verify the authenticity of the same. As they straight away carry out all the banking activities upon receiving the originals documents.

I thing the bank officials did not get proper training to carry out Banking Activities. BANK AND ANY ORGANISATION in the world is liable to check and verify the authenticity of any document regardless of whether it is a xerox copy or Original ones. Simply having original documents does not guarantees that they authentic too. In market many fakes and illegal documents are available which looks like Originals. Does ICICI bank will carry out all activities simply someone possessing having an Original Looking documents with them. THIS WILL BE A DISASTER FOR BANKING. BANK NEEDS TO VERIFY/AUTHENTICATE ANY DOCUMENT WHETHER IT IS A XEROX COPY OR ORIGINAL ONES. SIMPLY POSSESSING ORIGINAL LOOKING DOCUMENTS DOES MAKES SOMEONE AUTHENTIC AND SIMPLY POSSESSING XEROX COPIES OF DOCUMENTS DOES NOT MAKES SOMEONE UNAUTHENTIC/INVALID

2. I had asked to update/change my mobile number which they refused to do as I did not had my Original PAN card with me and so provided them with a Xerox Copy of the same. Having a xerox copy of something does not makes it Illegal/Unauthentic/invalid. They simply refused to change the same without any original documents which I did not had unfortunately with me. One more thing here to be noted is that my secondary mobile number had been updated in my ICICI Bank Account which I am surprised to see. I want my Account Opening Form to be checked for finding the error who had committed. ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

3. My legal name has also been not updated as per the documents which I had provided at the time of Opening the savings bank account which is a big shame for ICICI Bank. I think proper training and guidelines have not been provide to the banking officials and also there is no proper cross-verification of data at ICICI bank. Because of the incorrect updation of my name I did not able to link my Aadhar Online. I want my Account Opening Form to be checked for finding the error who had committed. ICICIC Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

4. The list of error committed by ICICI Bank does not stop here as ICICI bank has also updated incorrect address in my savings bank account. In banking there should not be even mistake of ONE Letter/Alphabet, ICICI Bank has shifted entire word from my residential address here and there. Let me ask you that kind of people do ICICI Bank employs and what kind of checking/verification/audit do generally ICICI bank performs ? ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

When we customer fails to perform/keep our agreed minimum balance in our savings account ICICI bank charges Minimum Balance Charge. The Bank wants to be compensated for failure of the customer to perform/keep the agreed amount.

As now ICICI bank has been found NEGLIGENT IN RENDERING SERVICES what compensation amount should I claim from ICICI Bank for the problems faced by me, Time Wasted, Mental Harassment gone through due to the negligent of the ICICI Bank ?

From: Asha Kanta Sharma ([protected]@yahoo.co.in)
Date: Friday, February 09, 2018 10:33 PM

Subject: Re: 'ICICICARE=[protected]'

Dear Sir/Madam,

Now let me highlight you about my experience on visiting my home branch of ICICI bank for updating my Aadhar Details 22nd January 2018:-

1. I reached there with my Online Aadhar Copy and asked the officials to update the same in my account. They said they will not be able to check/verify my Aadhar Details online as the system is not working. On asking when the system will get working I did not get any assured date. Why ICICI bank did not had their system running and moreover why there are No Back Up System which can work when one system fails ? Why even might be your system comes to Normal I had not been informed about the same? Why they did not kept my documents with them as they might will be able to update the same once the system backs to normal/working ? So, Shall I conclude that ICICI Bank has failed to provide basic banking facilities which are supposed to provide as a Private Banking Organisation. They told me to come with my Original Aadhar Card upon which they will not have to check /verify anything and will update necessary changes in my account. I got shocked to hear that as per the bank officials if we provide any Original Document bank do not need to check or verify the authenticity of the same. As they straight away carry out all the banking activities upon receiving the originals documents.

I thing the bank officials did not get proper training to carry out Banking Activities. BANK AND ANY ORGANISATION in the world is liable to check and verify the authenticity of any document regardless of whether it is a xerox copy or Original ones. Simply having original documents does not guarantees that they authentic too. In market many fakes and illegal documents are available which looks like Originals. Does ICICI bank will carry out all activities simply someone possessing having an Original Looking documents with them. THIS WILL BE A DISASTER FOR BANKING. BANK NEEDS TO VERIFY/AUTHENTICATE ANY DOCUMENT WHETHER IT IS A XEROX COPY OR ORIGINAL ONES. SIMPLY POSSESSING ORIGINAL LOOKING DOCUMENTS DOES MAKES SOMEONE AUTHENTIC AND SIMPLY POSSESSING XEROX COPIES OF DOCUMENTS DOES NOT MAKES SOMEONE UNAUTHENTIC/INVALID

2. I had asked to update/change my mobile number which they refused to do as I did not had my Original PAN card with me and so provided them with a Xerox Copy of the same. Having a xerox copy of something does not makes it Illegal/Unauthentic/invalid. They simply refused to change the same without any original documents which I did not had unfortunately with me. One more thing here to be noted is that my secondary mobile number had been updated in my ICICI Bank Account which I am surprised to see. I want my Account Opening Form to be checked for finding the error who had committed. ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

3. My legal name has also been not updated as per the documents which I had provided at the time of Opening the savings bank account which is a big shame for ICICI Bank. I think proper training and guidelines have not been provide to the banking officials and also there is no proper cross-verification of data at ICICI bank. Because of the incorrect updation of my name I did not able to link my Aadhar Online. I want my Account Opening Form to be checked for finding the error who had committed. ICICIC Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

4. The list of error committed by ICICI Bank does not stop here as ICICI bank has also updated incorrect address in my savings bank account. In banking there should not be even mistake of ONE Letter/Alphabet, ICICI Bank has shifted entire word from my residential address here and there. Let me ask you that kind of people do ICICI Bank employs and what kind of checking/verification/audit do generally ICICI bank performs ? ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

When we customer fails to perform/keep our agreed minimum balance in our savings account ICICI bank charges Minimum Balance Charge. The Bank wants to be compensated for failure of the customer to perform/keep the agreed amount.

As now ICICI bank has been found NEGLIGENT IN RENDERING SERVICES what compensation amount should I claim from ICICI Bank for the problems faced by me, Time Wasted, Mental Harassment gone through due to the negligent of the ICICI Bank ?

Show original message
On Thursday, 15 February 2018 3:42 PM, Priya Gupta wrote:

Dear Sir,

We refer to your e-mail dated February 9, 2018 regarding your Saving Bank Account 24XXXXXX1200.

We attempted contacting you on your given mobile number XXXXXX2826 and XXXXXX7972 dated February 15, 2018 at 03.30 p.m., However we were unable to establish contact with you.

We understand that our bank official had contacted you and had clarified the concern raised by you.

We sincerely apologize for the unpleasant experience you had while interacting with our branch officials.

Please be assured that your complaint has been accorded the due seriousness that it deserves and we assure you that necessary action will be taken, as deemed fit.

We regret the overall inconvenience caused to you and value your feedback which would give us insight to strengthen our internal systems and ensure non-recurrence of such incidents.

We thank you for the feedback and assure you that we will take all necessary measures to ensure that you always receive the best-in-class service.

We would also request you to visit branch along with Original KYC documents for further assistance.

In case you need any further clarification on this matter, you may contact our bank official Ms. Neha Parveen on her mobile +91 [protected] and she would be happy to help you.

Your understanding and acceptance in this regard is highly appreciated.

We affirm that ICICI Bank at all times acts with diligence, in good faith and in no manner prejudicial to the interests of its customers.

Looking forward for your co-operation.

Sincerely,

Priya Gupta
Senior Management Desk

NEVER SHARE your OTP, CVV, URN, User ID, password with anyone, even if the caller claims to be from ICICI Bank, Bank employees will never ask you for these details. Please safeguard these account details as sharing it can lead to unauthorised access to your account.

CONFIDENTIALITY INFORMATION AND DISCLAIMER
"This e-mail message may contain confidential, proprietary or legally privileged information. It should not be accessed by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender.You will appreciate that e-mail transmission cannot be guaranteed to be secure or error-free as its contents are susceptible to loss, damage, interception, destruction, etc. Before opening any attachments please check them for viruses and defects.The notice appended to the e-mails is not intended to prejudice the interests of our customers in any manner or to evade responsibility for any act of done with the endorsement of ICICI Bank."


-----Original Message-----
From: Asha Kanta Sharma ([protected]@yahoo.co.in)
Date: Friday, February 09, 2018 10:33 PM

Subject: Re: 'ICICICARE=[protected]'

Dear Sir/Madam,

Now let me highlight you about my experience on visiting my home branch of ICICI bank for updating my Aadhar Details 22nd January 2018:-

1. I reached there with my Online Aadhar Copy and asked the officials to update the same in my account. They said they will not be able to check/verify my Aadhar Details online as the system is not working. On asking when the system will get working I did not get any assured date. Why ICICI bank did not had their system running and moreover why there are No Back Up System which can work when one system fails ? Why even might be your system comes to Normal I had not been informed about the same? Why they did not kept my documents with them as they might will be able to update the same once the system backs to normal/working ? So, Shall I conclude that ICICI Bank has failed to provide basic banking facilities which are supposed to provide as a Private Banking Organisation. They told me to come with my Original Aadhar Card upon which they will not have to check /verify anything and will update necessary changes in my account. I got shocked to hear that as per the bank officials if we provide any Original Document bank do not need to check or verify the authenticity of the same. As they straight away carry out all the banking activities upon receiving the originals documents.

I thing the bank officials did not get proper training to carry out Banking Activities. BANK AND ANY ORGANISATION in the world is liable to check and verify the authenticity of any document regardless of whether it is a xerox copy or Original ones. Simply having original documents does not guarantees that they authentic too. In market many fakes and illegal documents are available which looks like Originals. Does ICICI bank will carry out all activities simply someone possessing having an Original Looking documents with them. THIS WILL BE A DISASTER FOR BANKING. BANK NEEDS TO VERIFY/AUTHENTICATE ANY DOCUMENT WHETHER IT IS A XEROX COPY OR ORIGINAL ONES. SIMPLY POSSESSING ORIGINAL LOOKING DOCUMENTS DOES MAKES SOMEONE AUTHENTIC AND SIMPLY POSSESSING XEROX COPIES OF DOCUMENTS DOES NOT MAKES SOMEONE UNAUTHENTIC/INVALID

2. I had asked to update/change my mobile number which they refused to do as I did not had my Original PAN card with me and so provided them with a Xerox Copy of the same. Having a xerox copy of something does not makes it Illegal/Unauthentic/invalid. They simply refused to change the same without any original documents which I did not had unfortunately with me. One more thing here to be noted is that my secondary mobile number had been updated in my ICICI Bank Account which I am surprised to see. I want my Account Opening Form to be checked for finding the error who had committed. ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

3. My legal name has also been not updated as per the documents which I had provided at the time of Opening the savings bank account which is a big shame for ICICI Bank. I think proper training and guidelines have not been provide to the banking officials and also there is no proper cross-verification of data at ICICI bank. Because of the incorrect updation of my name I did not able to link my Aadhar Online. I want my Account Opening Form to be checked for finding the error who had committed. ICICIC Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

4. The list of error committed by ICICI Bank does not stop here as ICICI bank has also updated incorrect address in my savings bank account. In banking there should not be even mistake of ONE Letter/Alphabet, ICICI Bank has shifted entire word from my residential address here and there. Let me ask you that kind of people do ICICI Bank employs and what kind of checking/verification/audit do generally ICICI bank performs ? ICICI Bank has once again failed to carry out basic banking activities and I can conclude that ICICI bank has been found NEGLIGENT IN RENDERING SERVICES.

When we customer fails to perform/keep our agreed minimum balance in our savings account ICICI bank charges Minimum Balance Charge. The Bank wants to be compensated for failure of the customer to perform/keep the agreed amount.

As now ICICI bank has been found NEGLIGENT IN RENDERING SERVICES what compensation amount should I claim from ICICI Bank for the problems faced by me, Time Wasted, Mental Harassment gone through due to the negligent of the ICICI Bank ?

With Regards,
Mr. Asha Kanta Sharma (Ashok)
Senior Accounts Executive
Best IT World (India) Private Limited
1st Floor, L L Tower, Tarun Nagar,
Main Road, Guwahati - 781005, Assam.
Mobile No. +[protected] / +[protected]
E-Mail:- [protected]@yahoo.co.in / [protected]@gmail.com

Head Office:
Best IT World (India) Private Limited
87, Mistry Industrial Complex,
M.I.D.C. Cross Road 'A', Andheri East,
Mumbai - 400093, Maharashtra.
Website: www.iball.co.in

On Thursday, 1 February 2018 6:38 PM, Kajal Jobanputra wrote:

Dear Sir,

We refer to your e-mail dated January 31, 2018, regards to Monthly Average Balance (MAB) charges.

We regret that we have incorrectly address you as 'Madam'.

We wish to inform you that you hold the account with status code GAA10 – Regular Savings account has been charged for non-maintenance of MAB of Rs. 10, 000.

Additionally as per RBI guidelines, wef April15 the following communication process is followed in case of breach in MAB:

· In event of a default in maintenance of minimum average balance (MAB), the bank notifies customer by Email/SMS/letter that in the event of the minimum balance not being restored in the account in the subsequent month, penal charges will be applicable.

· In case the minimum balance is not restored in the subsequent month, penal charges are recovered. In case the customer has not maintained MAB for any consecutive months, then penal charges are applicable for all consecutive months. This fact is being informed to the customer at the time of giving notice of initial default

Accordingly, an email was sent on December 2016 communicating the breach of requisite MAB in the month of November 2016. The same was repeated for the month of May 2017.

Further, as per our records email was sent to you on registered email Id on[protected] regarding non maintenance charges.

We request you to note that charges were levied as per our regular process and we regret our inability to reverse these charges as they are correctly levied to your savings account and your account is in closed status now.

The non maintenance of MAB charges will be collected on a monthly basis with effect from June 1, 2016. MAB is the simple average of day-end balances for a calendar month. For knowing the charges of non maintenance of MAB we request you to kindly click on the below link:
http://www.icicibank.com/service-charges/service-charges.page?

In case you are not satisfied with our decision, you may approach the Banking Ombudsman of RBI. Please access the below mentioned link to view the address:
http://www.icicibank.com/online-safe-banking/ces/banking-ombudsman.page

We have referred the case details to our Internal Ombudsman of the Bank (Appointed on the directive of Reserve Bank of India to look in to the complaints), who has examined the case and expressed that the reply given by the Bank's internal grievance mechanism is in order.

Please treat this as final decision of Office of the Internal Ombudsmen. A Copy of this response is being shared with Bank's internal grievance mechanism.

We look forward to your co-operation.

Sincerely,

Kajal Jobanputra
Senior Management Desk

NEVER SHARE your OTP, CVV, URN, User ID, password with anyone, even if the caller claims to be from ICICI Bank, Bank employees will never ask you for these details. Please safeguard these account details as sharing it can lead to unauthorised access to your account.

CONFIDENTIALITY INFORMATION AND DISCLAIMER
"This e-mail message may contain confidential, proprietary or legally privileged information. It should not be accessed by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender.You will appreciate that e-mail transmission cannot be guaranteed to be secure or error-free as its contents are susceptible to loss, damage, interception, destruction, etc. Before opening any attachments please check them for viruses and defects.The notice appended to the e-mails is not intended to prejudice the interests of our customers in any manner or to evade responsibility for any act of done with the endorsement of ICICI Bank."

-----Original Message-----
From: Asha Kanta Sharma ([protected]@yahoo.co.in)
Date: Wednesday, January 31, 2018 08:46 AM
To: "senior.[protected]@icicibank.com" (senior.[protected]@icicibank.com)
Subject: Re: RE:'ICICICARE=[protected]'

Dear Kajal,

First of all let me tell you about your negligancy in address me in the below mail. My gender is MALE.

I think you have not kept all the data with you while trying to solve any problem.

Regarding your question of convenient time, I would like to let you again know that I have asked for details of RBI Compliances in regards to the level of charges by your bank. The same is required on mail itself. No phone communication is required.

Provide me all the data, proofs, records of each and all the terms and conditions of guidelines as per RBI which is required to be followed before Levy of minimum balance charges.

Thanks

On Tue, Jan 30, 2018 at 7:36 PM, Kajal Jobanputra
wrote:
Dear Madam,

We refer to your email dated January 28, 2018.

We request you to confirm convenient time from Monday to Friday between 9:30 am to 7:30 pm(Indian Standard Time). So that we can contact you.

Looking forward to your cooperation.

Sincerely,

Kajal Jobanputra
Senior Management Desk

NEVER SHARE your OTP, CVV, URN, User ID, password with anyone, even if the caller claims to be from ICICI Bank, Bank employees will never ask you for these details. Please safeguard these account details as sharing it can lead to unauthorised access to your account.

CONFIDENTIALITY INFORMATION AND DISCLAIMER
"This e-mail message may contain confidential, proprietary or legally privileged information. It should not be accessed by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender.You will appreciate that e-mail transmission cannot be guaranteed to be secure or error-free as its contents are susceptible to loss, damage, interception, destruction, etc. Before opening any attachments please check them for viruses and defects.The notice appended to the e-mails is not intended to prejudice the interests of our customers in any manner or to evade responsibility for any act of done with the endorsement of ICICI Bank."

-----Original Message-----
From: Asha Kanta Sharma ([protected]@yahoo.co.in)
Date: Sunday, January 28, 2018 10:35 PM
To: "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com); "[protected]@icicibank.com" ([protected]@icicibank.com)
Cc: Asha Kanta Sharma ([protected]@gmail.com)
Subject: [Suspected Spam] Query on Levy of Minimum Balance Charges

Dear Sir/Madam,

I am having a savings bank account in your esteemed ICICI Bank Limited having IFSC Code being ICIC0002455. My Savings Bank Account No is[protected]

Upon checking my said account I have found out that a lot of minimum balance charges were levied in the said account.

As per RBI Guidelines all banks needs to follow certain rules and guidelines for levying any Minimum Balance Charges. The below the extracts from RBI Notifications on the same for your reference and necessary actions on my request for submission of necessary proofs and records of compliance of the same.

Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
RBI/2014-15/308
DBR.Dir.BC.No.47/13.03.00/2014-15
November 20, 2014
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir/Madam
Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Please refer to our circular DBOD.Dir.BC.53/13.10.00/2002-03 dated December 26, 2002 on ‘Minimum Balance in Savings Bank Accounts’ advising banks to inform customers, in a transparent manner, regarding the requirement of minimum balance in savings bank account and levy of penal charges for non-maintenance of the same at the time of opening the account.
2. In this connection, a reference is invited to paragraph 30 of Part B of First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014, regarding ‘Developmental and Regulatory Policies’ proposing certain measures towards consumer protection. One of the proposals contained therein was that banks should not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level. A reference is also invited to the recommendations of Damodaran Committee on customer service in banks which, inter-alia, recommended that ‘banks should inform the customer immediately on the balance in the account breaching minimum balance and the applicable penal charges for not maintaining the balance by SMS/Email/letter. Further, the penal charges levied should be in proportion to the shortfall observed’.
3. The policy announcement has been reviewed after extensive consultation with banks. Consequent to these deliberations and after taking into consideration the recommendation of Damodaran Committee, it has been decided that while levying charges for non-maintenance of minimum balance in savings bank account, banks shall adhere to the additional guidelines given in Annex. The guidelines come into effect from April 1, 2015.
4. These guidelines should be brought to the notice of all customers apart from being disclosed on the bank’s website.
5. In the meantime, all banks are advised to take immediate steps to update customer information so as to facilitate sending alerts through electronic modes (SMSs/emails etc) for effective implementation of the guidelines.
Yours faithfully
(Lily Vadera)
Chief General Manager
Annex
Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.
(iii) The policy on penal charges to be so levied may be decided with the approval of Board of the bank.
(iv) The penal charges should be directly proportionate to the extent of shortfall observed. In other words, the charges should be a fixed percentage levied on the amount of difference between the actual balance maintained and the minimum balance as agreed upon at the time of opening of account. A suitable slab structure for recovery of charges may be finalized.
(v) It should be ensured that such penal charges are reasonable and not out of line with the average cost of providing the services.
(vi) It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

In regards to the above give me all the proofs/records/data in regards to the compliance of ICICI Bank Limited of RBI Guidelines in regards to the levy of Minimum Balance Charges.

With Regards,
Mr. Asha Kanta Sharma (Ashok)
Senior Accounts Executive
Best IT World (India) Private Limited
1st Floor, L L Tower, Tarun Nagar,
Main Road, Guwahati - 781005, Assam.
Mobile No. +[protected] / +[protected]
E-Mail:- [protected]@yahoo.co.in / [protected]@gmail.com

Head Office:
Best IT World (India) Private Limited
87, Mistry Industrial Complex,
M.I.D.C. Cross Road 'A', Andheri East,
Mumbai - 400093, Maharashtra.
Website: www.iball.co.in